Which ASX listed companies has Eric Sprott backed?
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Eric Sprott is one of the world’s most prominent resources investors. Stockhead has decided to find which small caps he invests in.
Sprott’s portfolio is dominated by Canadian listed Kirkland Lake Gold where until March he served as chairman for several years.
But he holds shares in 16 ASX companies – all but two of which are small caps. Northern Star Resources (ASX: NST) and Saracen Mineral Holdings (ASX: SAR) are the two ASX large caps he holds shares in although once upon a time Northern Star was a small cap too. Sprott holds over $7 million shares in each.
But his biggest small cap holding is in Westgold Resources (ASX: WGX). This stock has reached the production phase, producing 73,321 ounces last quarter. It held lithium royalties but sold them last week to Liontown Resources (ASX: LTR).
Another gold producer Sprott backs is Dacian Gold (ASX: DCN) which has been highly volatile this year. After exceeding $2 in the first quarter it crashed to 38 cents – the catalyst being production cuts. But it has carried on with production and discovered more gold. Now it sits over 80 cents.
The next stock is Cardinal Resources (ASX: CDV) which is still at the drilling phase, but has an ore reserve at its Namdini project of over 5 million ounces.
Rameulis Resources (ASX: RMS) is another Sprott favourite. It’s had a successful year of exploration although a fair portion of its success can be credited to the acquisition of Explaurum.
Look through the list and you’ll notice one non-mining stock – Bard1 Life Sciences (ASX: BD1). According to Bloomberg Sprott owns $11,000 in its shares.
It’s true that this would be loose change for a billionaire, but it was nonetheless interesting to find one standout in his portfolio.
None of these holdings were substantial, so Sprott did not have to disclose any to the ASX. But with the amount of money invested into the majority of them, it’s clear he expects these stocks to do well – if they are not already.